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NIFORM  CLASSIFICATION 
OF  ACCOUNTS 

FOR  CLASS  B 


CARRIERS  BY  WATER 


22792 


PRESCRIBED  BY  THE 

RAILROAD  COMMISSION 

OF  THE 

STATE  OF  CALIFORNIA 


EFFECTIVE  JANUARY  1,  1923 


CALIFORNIA  STATK  PBINTINil   ni  i 
SACBAJkLENTO.  1922 


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Uniform  Classification  of  Accounts 


FOR  CLASS  B 


CARRIERS  BY  WATER 


PRESCRIBED  UY  THE 

RAILROAD  COMMISSION 

OF  THE 

STATE  OF  CALIFORNIA 


EFFECTIVE  JANUARY  1,^1923 


CALIFORNIA  STATE  PRINTING  OFFICE 
SACRAMENTO,  1922 


22792 


741119 


RAILROAD  COMMISSION  OF  THE  STATE  OF  CALIFORNIA 

Haeley  W.  Brundige,  President Commissioner 

Ibving   Maktin   Commissioner 

Chester  H.   Rowell Cx)mmissioner 

H.    Stanley   Benedict Commissioner 


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J     UNIFORM  CLASSIFICATION  OF  ACCOUNTS  FOR 
CLASS  B  CARRIERS  BY  WATER. 


Tlio  Commission  by   Decision  No.   lllMiO.  dated  Xoveiiiher  'l'-\.  V-Vl'l.  in 
Case  No.  1760,  ordered  ;nid  directed  thai    all   carriers   \)\   water   whose 
annual  operating  revenues  art'  ii^aOO.OOO,  or  less,  and  who  are  subject  to 
the  jurisdiction  of  the  Railroad  Connnission  and  not  to  the  jurisdiction 
^      of  the  Interstate  Connnerce  Commission,  nuist,  on  and  after  Jannai-y  1, 
\      1923,  keep  their  accounts  and  records  in  accorthuice  witli  the  unifoi-m 
\^    classification  of  accounts  contained  herein.     A   copy  of  the   Commis- 
sion's decision  is  attached  hereto  as  Appendix  "A." 

In  prescribing-  the  system  of  accounts,  the  Commission  does  not  biiul 

^    itself  to  approve  anv  item  set  out  in  anv  account,  either  as  to  amount 

r<     or  character,  for  rate-fixing  purposes  or  when  authorizing  the  issue  of 

securities.     The  prescribed  system  of  accounts  is  designed  to  set  out 

the  facts  in  connection  wdth  the  income,  expenditures,  etc.,  and  there- 

^    from  the  Commission  will  determine,  when  engaged  in  fixing  rates  or 

O    authorizing  the  issue  of  securities,  just  what  consi(h'ration  shall  be  given 

^    to  the  various  items  in  the  several  accounts. 

Very  truly  yours, 

RAILROAD  C0I\OnSSI()X  OF  THE 

STATE  OF  CALIFORxNIA, 

By  H.  G.  Mathewson, 

Secretary. 
Dated :  December  -i.  1922. 
Flood  Building, 

San  Francisco^  California. 


GENERAL  DEFINITIONS,  INSTRUCTIONS 
AND  INFORMATION. 


1.  Definition  of  "Carriers  by  Water." 

The  term  ''Carriers  bif  Wdtrr,"  as  used  in  this  chissificatioii,  nicaiis 
every  corporation,  company,  assocmtion,  joint  stock  association,  firm, 
copartnership  or  individual;  also  every  licensee,  trustee  or  receiver 
appointed  by  any  court  whatsoever;  owning,  controlling;  or  managing 
any  vessels,  tugboats,  lighters,  barges  or  other  floating  eciuipmeiit  used  in 
the  transportation  of  persons  or  property  as  a  common  I'an-iei-  foi-  com- 
pensation, and  subject  to  the  jurisdiction  of  the  Railroad  ('oiniiiissioii. 

For  the  purpose  of  this  system  of  accounts  i;irrici-s  by  watci-  ai-e 
divided  into  two  classes : 

Class  A:  Includes  all  carriers  having  annual  operating  revenues 
of  more  than  $500,000  and  subject  to  the  jurisdiction 
of  the  Railroad  Commission ;  also  all  carriers  subject  to 
the  jurisdiction  of  the  Interstate  Commerce  Commis- 
sion. 

Class  B  :  Includes  all  carriers  whose  annual  operating  revenues 
are  $500,000  or  less,  and  subject  to  the  jurisdiction  of 
the  Railroad  Commission. 

The  system  of  accounts  contained  herein  applies  to  Class  "B"  car- 
riers. Class  "A"  carriers  must  keep  their  records  and  accounts  in 
accordance  with  the  system  of  accounts  prescribed  by  the  Interstate 
Commerce  Commission  and  adopted  l)y  this  Commission. 

2.  Manner  in  which  records  must  be  kept. 

The  records  of  carriers  by  water  shall  be  kept  with  sufficient  particu- 
larity to  show  fully  the  facts  pertaining  to  all  entries  made  in  the 
accounts  provided  herein.  Where  the  full  information  is  not  recorded 
on  the  general  books,  the  entries  therein  shall  be  supported  by  other 
records  in  which  the  full  detail  shall  be  shown. 

The  general  book  entries  shall  contain  sufficient  reference  to  the  daily 
records  to  permit  ready  identification  and  the  daily  records  shall  be  filed 
in  such  manner  as  to  be  readily  accessible  for  examination  by  repre- 
sentatives of  the  Railroad  Commission. 

3.  Classification    of  accounts. 

The  system  prescribed  herein  for  Class  B  carriei's  contains  the  general 
classification  of  accounts : 

a.  Balance  sheet  accounts. 

b.  Property  and  equipment  accounts. 

c.  Income  and  profit  and  loss  accounts. 

d.  Operating  revenue  accounts. 

e.  Operating  expense  accounts. 


6  UNIFORM    CLASSIFICATION    OF   ACCOUNTS. 

4.  Balance  sheet. 

The  balance  sheet  is  a  statement  of  the  assets,  liabilities  and  surplus 
or  deficit  of  a  business  at  a  given  time.  It  contains  a  statement  of  the 
ledger  balances  after  the  accounts  covering  the  revenues,  expenses  and 
other  income  and  deduction  items  have  been  closed  into  surplus. 

5.  Property  and   equipment  accounts. 

The  property  and  equipment  accounts,  sometimes  termed  the  "Fixed 
Capital  Accounts"  are  the  accounts  in  which  are  shown  the  cost  or 
amounts  expended  on  the  different  elements  or  units  making  up  tlie 
property  used  in  the  operations  of  the  carrier's  business. 

The  expenditures  on  property  and  equipment  shall  be  distributed  to 
the  thirteen  primary  property  and  equipment  accounts  (see  pages  20- 
22),  in  accordance  with  the  text  of  such  accounts. 

5.   Income  accounts. 

The  income  accounts  show  the  amounts  of  money  that  the  carrier  has 
received  or  becomes  entitled  to  receive  for  services  rendered  during  a 
given  period,  the  return  accruing  during  the  period  upon  investments 
and  the  disbursements  and  obligations  incurred  and  which  affect  the 
disposition  of  the  amounts  received  or  which  the  carrier  is  entitled  to 
receive.     The  carrier's  records  shall  be  kept  on  an  accrual  basis. 

The  balances  in  the  various  income  accounts  shall  be  drawn  together 
annually  in  a  ledger  account  or  in  a  statement  form  which  will  give  the 
net  income  (or  net  loss)  for  the  year.  This  balance  shall  then  be  trans- 
ferred to  the  account  "Surplus,"  showing  the  accumulated  undivided 
profits  (or  deficits)  of  the  carrier. 

The  income  accounts  provided  for  in  this  classification  appear  on 
pages  24-25. 

7.  Operating    revenues. 

By  operating  revenues  are  meant  all  moneys  which  the  carrier  receives 
or  becomes  entitled  to  receive  for  services  rendered.  Credits  to  the 
revenue  accounts  shall  be  based  upon  the  gross  charges  made  for  the 
service  rendered.  The  totals  of  the  operating  accounts  shall  be  trans- 
ferred annually  to  the  appropriate  income  accounts.  The  operating 
revenue  accounts  provided  for  in  this  classification  appear  on  pages 
27-28. 

8.  Operating  expenses. 

By  operating  expenses  are  meant  the  expenses  of  maintaining  the 
property  devoted  to  the  carrier's  operations,  the  expenses  of  conducting 
the  carrier's  operations  and  the  services  incident  thereto,  depreciation, 
expenses  of  collecting  revenues  and  of  accounting  and  the  general 
supervisional   expenses   in   connection   therewith.     The   totals  of   the 


CAKKIIORS    BV    WATI:K.  / 

operatinjjf  expense  accounts  as  provided  herein  sliall  lie  transferred 
annually  to  income  account  340.  The  operating  expense  accounts 
provided  in  this  classification  appear  on  pages  30-32. 

9.  Cost  of  property   and  equipment. 

The  term  '"Cost,"  as  used  herein,  means  the  actual  cost  in  money  of 
property  or  equipment  purchased,  or  constructed  ;  if  the  consideration 
given  is  other  than  money,  such  consideration  shall  be  reduced  lo  actual 
money  value  as  of  the  date  of  purchase. 

The  cost  of  labor  includes  not  only  wages,  salai'ies  and  fees  to 
employees,  but  also  personal  expenses  of  such  employees  when  borne 
by  the  carrier.  The  cost  of  materials  and  supplies  used  in  construction 
is  their  cost  at  the  place  where  they  enter  into  construction,  and 
includes  the  cost  of  transportation  and  inspection. 

10.  Property  and  equipment   in   service   prior  to   January   1,   1923. 

The  original  cost  or  ledger  value  of  property  and  equipment  in  service 
on  December  31,  1922,  shall  be  transferred  to  account  212  ''Property 
and  equipment  in  service  prior  to  January  1,  1923,"  and  carried  therein 
pending  its  segregation  in  accordance  with  the  text  of  property  and 
equipment  accounts  200  to  211,  both  inclusive.  "When  such  segregation 
is  completed,  account  212  shall  be  cleared  by  transfers  to  the  appropri- 
ate property  and  equipment  accounts. 

In  cases  where  it  is  not  possible  from  records  previously  maintained, 
to  ascertain  the  original  cost  of  the  different  units,  the  original  cost  may 
be  estimated  and  the  amounts  so  ascertained  distributed  to  the  appro- 
priate property  and  equipment  accounts  as  herein  provided.  If  the 
estimated  cost  is  less  than  the  amount  at  which  rsuch  property  is  carried 
in  account  212,  the  difference  shall  be  charged  to  account  200,  "Intang- 
ible capital."  If  the  estimated  cost  is  in  excess  of  the  amount  at  which 
the  property  is  carried  in  account  212,  such  estimated  cost  must  be 
approved  b}'  the  Railroad  Commission  before  the  entries  can  be  placed 
on  the  books. 

11.  New  construction. 

When  any  new  property  or  equipment  is  constructed  or  otherwise 
acquired,  the  cost  thereof  shall  be  charged  to  the  appropriate  property 
and  equipment  accounts  200  to  211  in  accordance  with  the  text  of  the 
accounts. 

12.  Reconstruction. 

Reconstruction  (or  exti-aordinary  repairs)  includes  tlie  following: 
(a)    Restoring  to  an  efficient  service  condition  any  floating  c(iuii)inent, 

buildings,  structures  or  other  units  of  property  which  have 

deteriorated. 


8  UNIFORM    CLASSIFICATION    OF   ACCOUNTS. 

(h)   Substitutint;',  or  replaeinji',  new  parts  for  old  parts  of  equipment 
or  structures,  in  order  to  maintain  normal  and  efficient  service. 

(c)  Restoring  the  condition  of  propert}'  and  equipment  damaged  by 

storm,  flood,  fire  or  other  casualty. 

(d)  Recovering  salvage  and  removing  retired  or  abandoned  property 

in  connection  with  above  mentioned  work. 

Reconstruction  should  be  taken  into  consideration  in  arriving  at  a 
rate  of  depreciation  as  explained  in  Section  16.  Care  should  be  taken 
to  see  that  ordinary  current  repairs,  as  defined  in  Section  14,  are  not 
handled  as  reconstruction. 

When  property  and  equipment  is  reconstructed  and  the  property  as 
reconstructed  is  of  no  greater  use  or  capacity  than  was  the  original 
property,  the  cost  of  reconstruction  shall  be  treated  as  follows : 

Debit. — 

To  Account  158  "Reserve  for  accrued  depreciation"  the  amount 

carried  therein  relative  to  such  property. 
To  Account  106  "Materials  and  supplies,"  the  salvage  value  of 

materials  recovered  from  original  property. 
To  accounts  for  operating  expenses  (600  or  610)  the  remainder  of 

the  cost  of  reconstruction. 

Credit. — 

To  Account  103  ' '  Cash  "  or  to  other  appropriate  accounts  the  cost 
of  reconstruction. 

If  the  property  as  reconstructed  is  more  useful  or  of  greater  capacity 
than  was  the  original  property,  the  cost  of  reconstruction  shall  be 
treated  as  follows : 

Debit. — 

To  accounts  for  property  and  equipment  (200  to  211)  the  excess 

cost  of  the  property  as  reconstructed  over  the  cost  or  ledger  value 

of  the  original  property. 
To  Account  158  "Reserve  for  accrued  depreciation"  the  amount 

carried  therein  relative  to  the  property  reconstructed. 
To  Account  106  "Materials  and  supplies"  the  salvage  value  of  the 

material  recovered  from  the  original  property. 
To  operating  expense  accounts  (600  or  610)  the  remainder  of  the 

cost  of  reconstruction. 

Credit. — 

To  Account  103  "Cash"  or  other  appropriate  accounts  the  cost  of 
reconstruction. 


CAHKMKKS    HV    WATKR.  9 

When  it  is  necossary  to  sul)st;mlially  reconstruct  nr  to  rc|)la('('  a  luajoi" 
portion  of  any  unit  ol"  pruixTty  oi-  any  import mt  section  of  a  contin- 
uous structure,  the  cost  shall  he  handled  thro\i<ih  the  propei'ty  and 
e4uii)inent  accounts;  that  is,  the  original  cost  of  the  properly  removed 
or  replaced  shall  he  credited  to  the  api)ropriate  projicrty  and  c(piipnient 
accounts,  and  the  cost  of  the  new  pi-operty  shall  l)e  chai'ircd  thereto. 
(See  Section  18,  followinu). 

13.  Property  and  equipment  retired. 

When  any  unit  of  property  and  e(iuipnient  is  sold,  destroyed,  with- 
drawn or  otherwise  retired  from  service  for  any  cause,  the  cost  or  ledfjer 
value  (estimated  if  not  known)  of  the  unit  retired  shall  he  credited  to 
the  appropriate  account  or  accounts  in  which  it  is  cairied  and  the 
amount  concurrently  chartred  to  one  or  more  of  the  followiui;  accounts 
as  may  be  appropriate. 

Debit. — 

To  Account  158  "Reserve  for  accrued  depreciation"  the  amount 
(estimated  if  not  known)  of  the  accrued  depreciation  carried 
therein  for  the  property  retired. 

To  Account  106  "Materials  and  supplies"  the  salvage  value  of  the 
material,  if  any,  recovered  from  such  property  and  taken  into 
stores  for  future  use  or  sale. 

To  Account  103  "Cash"  with  the  proceeds,  if  any,  from  the  sale 
of  material  recovered  from  the  property. 

To  Account  380  "Miscellaneous  charo:es  to  inconu'"  with  the  bal- 
ance, if  any. 

The  cost  of  the  property,  if  any,  installed  in  place  of  that  retired 
shall  be  charged  to  property  and  equipment  accounts  (200  to  211  j. 

14.  Repairs. 

The  items  chargeable  to  repair  accounts  600  ,ind  (JIO  sliouM  he  con- 
fined to  labor  and  material  expended  in  repairs  to  vessel  and  to  furni- 
ture and  fixtures,  etc.  The  items  includible  in  these  repair  accounts 
should  be  for  the  purpose  of  keeping  the  equipment  in  serviceable  condi- 
tion, or  to  make  the  distinction  more  clear,  to  keep  the  equipment  as 
near  as  possible  in  the  same  condition  (except  for  depreciation)  as 
when  received  from  the  shipbuilder,  fully  equipped  and  completed  for 
the  purpose  of  rendering  transportation  service. 

Expenditures  for  fuel,  lubrication,  food  supplies,  water  and  other 
items  not  incurred  in  connection  with  the  repair  or  renewal  of  any 
part  of  the  hull,  machinery,  furniture,  tittings  or  fixtures  of  a  fully 
equipped  and  completed  vessel  shall  not  be  charged  to  the  repair 
accounts. 


10 


UNIFORM    CLASSIFICATION    OF    ACCOUNTS. 


A  partial  list  of  tlie  more  coninion  articles  oi-  parts  whieli  an;  used 
in  tlie  repair  or  renewal  of  lioatinj?  eciuipnieiit,  together  with  incidental 
expenses  in  connection  therewith,  follows.  This  list  is  representative 
and  not  exhaustive,  and  should  be  used  merely  as  a  guide  or  to  indicate 
the  nature  of  the  items  which  are  chargeable  to  repair  accounts.  The 
items  chargeable  to  repair  accounts  include,  among  others: 


Aerial  attachments. 

Anchors. 

Axes  and  handles. 

Awnings. 

Barometers. 

Bedding. 

Bells. 

Berths. 

Blocks  and  tackle. 

Wash-bowls. 

Carpets. 

Cables. 

Clocks. 

Compasses. 

Desks. 

Dry-docking  charges. 

Electric  fixtures. 

Flags. 

Fire  extinguishers. 

Freight   charges   on   repair 

terial 
Gangplanks. 
Hammers. 


ma- 


Hot  water  fixtures. 

Kitchen  equipment. 

Lamps. 

Life  preservers. 

:\Iats. 

Mirrors. 

Propellors. 

Railings. 

Ropes. 

Smokestacks. 

Speaking  t  nbes. 

Storm  shutters. 

Towel  racks. 

Telescopes. 

Telephone  apparatus. 

Ventilato)-.s. 

Whistles  and  cord. 

Window  glass  and  shade. 

Windlasses. 

Wireless  telegraph  apparatus. 

Electric   wiring. 

Wrenches. 


15.  Cost  of  repairs. 

The  term  "Cost  of  Repairs"  includes  the  wages,  salaries  and  fees 
paid  to  employees  directly  engaged  in  the  work  of  repairs,  the  personal 
expenses  of  the  employees  when  borne  by  the  carrier,  the  cost  (includ- 
ing transportation)  of  materials  and  supplies  used,  and  the  expense  of 
facilities  employed  in  making  the  repairs.  It  includes  also  the  cost  of 
direct  supervision,  such  as  by  foremen  or  superintendents  of  repair 
gangs,  but  does  not  include  the  salaries  and  expenses  of  the  general 
officers  of  the  carrier. 

16.  Depreciation. 

Depreciation  is  the  decline  in  value  of  tangible  property  and  is  one 
of  the  losses  of  the  company  properly  chargeable  to  operating  expenses. 
There  is  a  certain  wear  and  tear  taking  place  in  the  property  during 


CARRIERS    BY    WATER.  11 

operation  which  can  not  be  covered  by  current  repairs,  antl  iti  addition, 
the  property  is  liable  to  become  obsolete  oi-  inadetpialt'  and  for  that 
reason  will  i)robably  at  some  future  ihite  be  discarded  or  rephiccd. 

In  order  to  provide  for  the  expense  when  property  is  ImUcu  out  of 
service  or  replaced,  ehar<ies  should  l)e  made  to  operating  expenses  to 
provide  a  reserve  for  such  ])uri)ose.  If  tliis  is  not  done,  the  expense 
of  replacing  must  be  cliarged  in  bulk  to  operating  expenses  when  the 
property  is  replaced,  which  would  cause  the  c()ni])any  to  show  low- 
operating  expenses  in  years  when  no  reconstruction  takes  phice  and 
high  operating  expenses  in  years  when  reconstruction  is  ])erformed. 
By  providing  depreciation  charges,  the  operating  expenses  will  show  a 
record  of  expense  from  year  to  year  more  in  harmony  with  ti'ue  con- 
ditions. 

Charges  for  depreciation  should  l)e  based  on  a  rule  that  will  eveidv 
distribute  over  operating  expenses  during  the  life  of  the  ))r<)perty  the 
original  cost  (less  the  salvage).  The  Commission  does  not  in  tliis  sys- 
tem of  accounts  prescribe  the  rate  of  depreciation. 

The  amount  of  the  monthly  or  annual  charges  to  cover  dei)reciation 
shall  be  charged  to  operating  expense  account  620  "Depreciation 
of  property  and  equipment"  and  credited  to  balance  sheet  account 
158  "Reserve  for  accrued  depreciation."  Against  the  latter  account 
should  be  charged  (to  the  extent  that  such  charges  are  covered  by  the 
reserve)  the  expense  of  reconstruction  or  the  cost  or  ledger  value  of 
property  when  retired.     (See  Sections  12  and  13,  pages  7,  8  and  9.) 

17.  Subaccounts. 

Nothing  contained  m  this  system  of  accounts  prohibits  a  carrier 
from  segregating  its  receipts  and  payments  in  further  retinement  by 
the  adoption  of  two  or  more  subaccounts  representing  one  primary 
account  in  this  classification,  provided  that  any  one  group  of  subaccounts 
shall  contain  only  such  items  as  ai'e  stated  hei-ein  to  i)e  proj)rrly  inclmled 
in  tile  primary  account  wliich  they  rei)rosent. 


3 — 22792 


BALANCE   SHEET   ACCOUNTS. 

Asset  Side. 

Page 
100 — Property    and    Equipment , 13 

101— Other  Property   13 

102 — Securities  of  Other  Carriers 13 

103— Cash 13 

104 — Notes  Receivable 13 

10r> — Accounts  Receivable 13 

106 — Materials   and   Supplies 14 

107 — Special    Funds —  14 

lOS — Prepayments    14 

109 — Treasury    Securities   14 

110 — Discount  on  Capital  Stock 14 

111 — Discount  and  Expense  on  Long  Term  Debt 15 

112— Other   Debit    Accounts 16 

Liability  Side. 

150— Capital    Stock    16 

151 — Premium  on  Capital  Stock 16 

152 — Assessment  on  Capital   Stock : 16 

1.53 — Proprietor's   Account    17 

154 — Loiig  Term  Debt 17 

155 — Notes  Payable 17 

1.56 — Accounts  Payable  17 

157 — Accrued  Liabilities  Not  Due 17 

158 — Reserve   for  Accrued   Depreciation 17 

1.50 — Other   Credit    Accounts IS 

160— Surplus    (or    Deficit"! 18 


CARRIERS   BY    WATER.  13 

TEXT  OF  BALANCE  SHEET  ACCOUNTS  FOR  CLASS  B  CARRIERS. 

asset  side. 

100.  Property  and  Equipment. 

This  account  shall  include  the  balances  represetitin<>'  the  l)0()k  value  or 
cost  of  all  property  and  eciuipment  devoted  to  the  service  of  transporta- 
tion by  water  at  the  date  of  the  balance  sheet. 

Note. — Separate  ledger  accounts  shall  be  kept  for  eacli  primary  property  and  equip- 
ment accounts  Nos.  200  to  212,  if  such  accounts  are  applicable,  and  the  total  of  the 
balances  of  such  accounts  should  be  carried  to  account  No.  100  when  the  balance  sheet 
is  prepared. 

101.  Other  Property. 

This  account  shall  include  the  cost  of  physical  property  such  as  lands, 
buildings,  etc.,  not  used  by  the  carrier  in  its  transportation  business. 

102.  Securities  of  Other  Carriers. 

This  account  shall  include  the  cost  or  ledger  value  of  stocks,  bonds, 
mortgages  and  other  evidences  of  indebtedness  owned  by  the  carrier. 
(Do  not  include  in  this  account  unissued  or  treasury  stock,  bonds,  or 
other  evidences  of  indebtedness.) 

103.  Cash. 

This  account  shall  include  the  amount  of  cash  and  other  current  funds 
in  the  hands  of  financial  officers  and  agents,  or  on  deposit  in  bank  or 
with  trust  companies  available  for  use  on  demand.  This  account  shall 
also  include  cash  deposited  for  payment  of  dividends  or  interest  and 
for  other  specific  purposes. 

104.  Notes  Receivable. 

This  account  shall  include  the  ledger  value  of  all  collectible  obliga- 
tions in  the  form  of  notes  receivable  or  other  similar  evidences  of  money 
receivable. 

105.  Accounts  Receivable. 

This  account  shall  include  amounts  owing  to  the  carrier  ])y  corpora- 
tions, firms  or  individuals  for  services  rendered  and  for  whicli  amounts 
no  notes  have  been  given;  net  ])alance  due  from  agents  and  other  em- 
ployees charged  with  tlie  collection  or  custody-  of  current  revenues ; 
amo.unts  advanced  to  employees  i'or  working  funds ;  dividends  and  inter- 
est due  and  collectible  on  securities,  mortgages,  account.s,  deposits;  and 
other  items  of  a  similar  nature. 


14  uniform  classificatiox  of  accounts. 

106.  ^Materials  and  Supplies. 

This  accoimt  shall  include  the  balauces  representing  the  cost  of 
materials  and  supplies  on  hand  arrived  at  as  follows : 

Charge  to  this  account  the  cost  of  materials  and  supplies  purchased 
including  transportation  and  other  charges.  Charge  also  to  this  account 
at  salvage  value  any  material  recovered  from  plant  retired  and  taken 
into  store  for  future  use  or  sale.  Materials  and  supplies  taken  out  of 
store  for  use  or  sale  shall  be  credited  to  this  account  at  the  value  at 
"uhich  such  materials  and  supplies  are  included  in  this  account. 

XOTE. — ^When  materials  and  supplies  are  purchased  for  immediate  use,  they  need 
not  be  carried  to  this  account,  but  may  be  charged  directly  to  plant  and  equipment, 
operating  expenses,  or  other  accounts  affected. 

107.  Speclvu  Funds. 

This  account  shall  include  the  cost  or  ledger  value  of  securities  or 
other  assets  which  have  been  set  apart  and  are  held  in  depreciation, 
sinking,  insurance  or  other  funds. 

108.  Prepatmexts. 

This  account  shall  include  the  amount  of  rents,  taxes,  licenses,  insur- 
ance and  other  like  expenses  paid  in  advance  to  the  period  to  which 
they  apply.  As  the  period  covered  by  such  prepayment  expires,  this 
account  should  be  credited  and  the  proper  operating  expense  or  other 
accounts  charged  with  the  amount  applicable  to  the  period. 

1('9.  Treasit^y  Securities. 

This  account  shall  include  the  par  value  of  .stock  and  long  term  debt 
^\•hich  have  been  nominally  but  not  actually  issued  by  the  carrier. 
Separate  accounts  shall  be  maintained  for  each  class  of  stock,  such  as 
common  and  prefen-ed,  and  for  each  class  of  long  term  debt.  This 
account  shall  also  include  uncanceled  long  term  debt  reacquired  by  the 
carrier. 

XoTE. — Capital  stock  is  considered  nominally  issued  when  certificates  are  signed  and 
sealed  and  placed  with  the  proper  officers  for  sale  and  delivery,  or  otherwise  held 
within  the  control  of  the  carrier.  It  is  considered  actually  issued  when  it  has  been 
sold  to  a  bona  fide  purchaser  for  a  valuable  consideration  and  such  purchaser  holds 
it  free  from  all  control  of  the  carrier. 

Long  term  debt  is  considered  to  be  nominally  issued  when  certified  by  the  trustee 
and  placed  with  the  proper  officer  for  sale  and  delivery,  or  otherwise  held  within  the 
control  of  the  carrier.  It  is  considered  to  be  actually  issued  when  it  has  been  sold 
to  a  bona  fide  purchaser  for  a  valuable  consideration  and  such  purchaser  holds  it  fret 
from  all  control  of  the  carrier. 

110.  Discount  On  Capit^vl  Stock. 

This  account  shall  include  the  discount  ou  capital  stock  i.ssued  or 
assumed  by  the  carrier.  By  the  term  "Discount"  is  meant  the  excess 
01  the  par  value  of  stock  actually  issued  or  assumed  over  the  cash  value 
of  the  consideration  received  for  such  stock.  Separate  accounts  shall 
be  maintained  for  the  discount  on  each  class  of  stock,  such  as  common 


CARRIERS    BY    WATER.  15 

<ind  preferred,  and  also  for  each  issiif  of  tlir  <~;\\\\r  <'l,iss  if  the  terms 
in  any  way  differ. 

Entries  in  these  accounts  shall  be  carried  therein  until  offset : 

(1)  By  premium  realized  by  subsequent  sales  of  the  same  class  of 

stock ; 

(2)  By  assessments  levied  on  the  stockholders; 

(3)  By  appropriation  from  surplus  for  that  purpose; 

(4)  B}'  the  difference  between  the  par  value  of  the  same  class 

of  stock  reacciuired  and  the  amount  paid  therefor,  provided 
the  amount  paid  is  less  than  the  par  value. 

Note.— The  cash  as  received  from  stockholders  in  respect  to  assessments  shall  be 
carried  to  account  No.  152,  "Assessment  on  Capital  Stock."  If  the  total  received  is 
less  than  the  balance  at  the  debit  of  di.scount  account,  the  amount  received  shall  bf? 
transferred  to  this  account ;  if  the  total  received  is  larger,  the  balance  at  the  debit 
of  this  account  shall  be  transferred  to  Account  No.  15J,  "Assessment  on  Capital 
Stock." 

Ill,  Discount  and  Expense  On  Long  Term  Debt. 

This  account  shall  include  discount  on  indebtedness,  such  as  bonds, 
notes,  mortgages,  receiver's  certificates  and  other  evidences  of  indebt- 
edness, issued  or  assumed  by  the  carrier  and  not  payable  until  after  one 
year  from  date  of  issue.  It  shall  include  the  expense  in  connection  with 
the  issue  and  initial  sale  of  long  term  debt,  such  as  fees  for  drafting 
mortgages  and  deeds  of  trust ;  fees  and  charges  for  issuing  or  recording 
mortgages  and  deeds  of  trust ;  co.st  of  printing  bonds,  certificates  of 
indebtedness  and  other  commercial  paper  having  a  life  of  more  than 
one  year ;  fees  paid  trustees  under  mortgages  and  deeds  of  trust  in  con- 
nection with  the  issue  of  bonds  or  other  forms  of  indebtedness. 

By  the  term  ''Di.scount"  is  meant  the  excess  of  the  par  value  of  the 
securities  issued  or  assumed  and  the  accrued  interest  thereon,  over  the 
actual  cash  value  of  the  consideration  received  for  such  securities. 

Ledger  accounts  shall  be  provided  to  cover  discount  and  expense  for 
each  class  of  debt,  such  as  bonds,  mortgages,  notes,  etc.,  and  also  for 
each  issue  of  the  same  class,  if  the  terms  are  in  any  way  different.  The 
total  of  the  balance  remaining  shall  be  included  in  the  balance  sheet 
in  this  account. 

Each  month  or  year  there  shall  be  credited  to  this  account  and  charged 
to  income  account  380  "Miscellaneous  charges  to  income"  the  pro- 
portion of  the  debit  carried  in  these  accounts,  such  proportion  to  be 
based  upon  the  ratio  which  such  period  bears  to  the  remaining  life  of 
the  respective  security. 

If  the  carrier  desires,  it  may  write  off  the  debit  balance  in  this  account 
more  rapidly  than  above  .stated. 


16  uniform  classification  of  accounts. 

112.  Other  Debit  Accounts. 

This  account  shall  include  all  debits  pertaining  to  the  balance  sheet 
v.hich  are  not  provided  for  elsewhere,  including  debit  items,  the  final 
disposition  of  which  has  not  been  determined. 

Note. — Tlie  entries  in  this  account  shall  be  made  in  sufficient  detail  to  permit  an 
analysis  in  the  reports  to  the  Railroad  Commission  and  where  necessary,  separate 
subaccounts  shall  be  provided. 

liability  side. 

150.  Capital  Stock. 

This  account  shall  include  the  total  par  value  of  outstanding  capital 
.stock.  In  case  of  the  issue  of  two  or  more  classes  of  capital  stock,  such 
as  common  and  preferred,  a  subaccount  shall  be  provided  for  each  class. 
If  capital  stock  is  paid  for  by  installments,  and  the  stock  issued  when 
fully  paid,  a  subaccount  entitled  "Installments  on  capital  stock"  shall 
be  provided,  to  which  shall  be  credited  the  amounts  of  installments 
received  by  the  company.  When  stock  certificates  are  issued  to  stock- 
holders, the  subaccount  shall  be  charged  and  the  appropriate  capital 
stock  account  shall  be  credited. 

In  stating  this  account  on  the  balance  sheet  statement,  the  par  value 
of  stock  held  by  the  company  in  its  treasury,  in  sinking  and  other 
reserve  funds,  or  otherwise,  shall  be  deducted,  in  order  that  this  account 
will  show  only  the  par  value  of  stock  held  by  the  public. 

151.  Premium  On  Capital  Stock. 

This  account  shall  include : 

A.  The  excess  of  the  actual  money  value  (at  the  time  of  issue  of. 

stock)   of  the  consideration  received,  over  the  par  value  of 
capital  stock  issued ; 

B.  The  amount  by  which  the  face  value  of  capital  stock  reacquired 

exceeds  the  amount  paid  therefor. 

The  entries  in  this  account  shall  be  carried  therein  until  offset: 

(1)  By  discount  suffered  on  subsequent  sales  of  the  same  class  of 

stock ; 

(2)  By  the  difference  between  the  par  value  of  the  same  class  of 

stock  reacquired  and  the  amount  paid  therefor,  provided  the 
amount  paid  is  in  excess  of  par  value ; 

(3)  If  the  corporation  elects  and  is  permitted  to  distribute  to  its 

stockholders  all  or  any  portion  of  the  premium  on  its  capital 
stock,  the  amount  distributed  shall  be  charged  to  this  account. 

152.  Assessment  On  Capital  Stock. 

This  account  shall  include  the  amount  received  in  respect  of  assess- 
ments levied  on  capital  stock.     Entries  in  this  account  shall  be  carried 


CARRIERS    BY    WATER.  17 

therein    until    offset,    as    explained    in    the    note    nudvr    account    110 
"Discount  on  capital  stock." 

153.  Proprietor's  Account. 

This  account  is  to  bo  used  instead  of  account  150  where  the  business  is 
conducted  by  an  individual,  firm,  coj)artnership  or  under  any  style 
other  than  that  of  an  incorpoi-ated  compan.w  and  shall  iiidiidi'  the 
amount  paid  into  the  business  by  the  party  or  pai-ties  interested  in  the 
concern. 

If  separate  accounts  are  kept  for  each  of  the  parties  interested,  the 
total  of  the  balances  in  such  accounts  shall  be  shown  in  one  fi<iure  in  the 
balance  sheet. 

154.  Long  Term  Debt. 

This  account  shall  include  the  face  value  of  all  hoiuls,  mortgages, 
receiver's  certificates,  notes  and  other  evidences  of  indebtedness  issued 
or  assumed  by  the  carrier  and  which  are  not  due  and  payable  until  one 
year  from  date  of  issue.  In  ease  of  the  issue  of  two  or  more  classes  of 
long  term  debt,  a  subaccount  shall  be  provided  for  each  class. 

In  stating  this  account  on  the  balance  sheet  statement,  the  par  value 
of  long  term  debt  issued  or  assumed  by  the  carrier  and  held  by  it  in  its 
treasury,  in  sinking  or  other  reserve  funds,  or  otherwise,  shall  be 
deducted,  in  order  that  this  account  shall  show  only  the  par  value  of 
the  long  term  debt  held  by  the  public. 

155.  Notes  Payable. 

This  account  shall  include  the  par  value  of  all  notes,  drafts  and  other 
evidences  of  indebtedness  issued  or  assumed  by  the  carrier  and  payable 
on  demand  or  within  one  year  from  date  of  issue. 

156.  Accounts  Payable. 

This  account  shall  include  miscellaneous  bills  unpaid,  wages  unpaid, 
audited  vouchers  unpaid,  dividends  declared  and  unpaid,  interest  due 
and  unpaid  and  similar  items. 

157.  Accrued  Liabilities  Not  Due. 

This  account  shall  include  the  amount  of  taxes,  interest,  rents  and 
other  expenses  which  have  accrued  and  have  been  charged  to  operating 
expenses  or  other  accounts,  in  excess  of  the  amounts  actually  paid. 
AVhen  the  payments  become  due,  this  account  shall  be  charged  and  the 
cash  or  other  accounts  affected  shall  be  credited. 

158.  Reserve  for  Accrued  Depreciation. 

This  account  shall  include  the  amounts  which  are  charged  monthly  or 
annually  to  operating  expense   account   620  "Depreciation   of  prop- 


18  T7NIP0RM    CLASSIFICATION    OF    ACCOUNTS. 

orty  and  equipment,''  to  cover  the  depreciation  taking  place  in  prop- 
erty and  e(iuipment,  as  exi)lained  on  ])ao'e  10  under  '^De[)reciation. " 
When  any  plant  or  e(|uipiuent  is  reconstructed  or  retired,  the  amount 
heretofore  credited  to  this  account  in  respect  of  tlie  i)roperty  recon- 
structed or  retired  (see  Section  13,  page  9)  shall  be  charged  to  this 
account. 

159.  Other  Credit  Accounts. 

This  account  shall  include  all  credit  items  pertaining  to  the  l^alance 
sheet  which  are  not  provided  for  elsewhere,  including  credit  items,  the 
fhial  disposition  of  which  is  uncertain.  It  shall  also  include  unex^ 
tinguished  premiums  on  long  term  debt,  reserves  provided  for  personal 
injuries,  insurance,  damage  claims  and  other  similar  items. 

Note. — The  entries  in  tliis  account  shall  be  made  in  sufficient  detail  to  pfermit  an 
analysis  in  the  reports  to  tlie  Railroad  C'ommission  and  where  necessary,  separate 
subaccounts  shall  be  provided. 

160.  Surplus  (or  Deficit). 

Under  this  head  on  the  balance  sheet  statement  shall  be  shown  the  bal- 
ance of  the  income  account.  When  this  account  shows  a  deficit  or  debit 
balance,  it  shall  be  shown  on  the  balance  sheet  in  red  ink.  The  surplus 
account  is  the  difference  between  the  total  assets  and  the  total  liabilities 
and  shows  the  undivided  surplus  or  deficit  of  the  carrier. 

The  net  income  (or  loss)  for  the  year  as  shown  liy  the  income  account 
shall  be  transferred  to  this  account. 

This  account  shall  also  be  credited  or  charged  with  any  adjustments 
affecting  the  asset  and  lia])ility  accounts,  and  any  miscellaneous  amounts 
or  losses  which  are  not  attributable  to  the  operations  for  the  year,  as 
shown  by  the  income  account. 

The  entries  to  this  account  shall  be  shown  in  such  detail  as  will  clearly 
explain  their  purposes  and  show  all  significant  facts  involved. 


PROPERTY  AND  EQUIPMENT  ACCOUNTS. 

Page 
200— Intangibles    20 

201 — Line  Equipment 20 

202 — Harbor  Equipment 20 

203 — Miscellaneous  Floating  Equipment 20 

204 — Wharves,   Docks   and   Terminals 20 

205— Wharf    Equipment   21 

206 — iWater  Front  and  Terminal  Grounds 21 

207 — Other   Grounds   21 

208 — General  and  Local  Office  Buildings 21 

209 — Office  Furniture  and  Equipment 21 

210 — Shops,  Power  Plants  and  Miscellaneous  Structures 22 

211 — Miscellaneous 22 

212 — Property  and  Equipment  in  Service  Prior  to  January  ],  1923 22 


20  UNIFORM    CLASSIFICATION    OF   ACCOUNTS. 


TEXT  OF  PROPERTY  AND  EQUIPMENT  ACCOUNTS  FOR  CLASS 

B  CARRIERS. 

Note. — The  cost  of  articles  of  small  value  or  of  short  life  or  articles  that  are  likely 
to  be  lost  or  stolen  shall  not  be  charged  to  the  property  and  equipment  accounts  but 
sliall  be  cliarged  to  the  appropriate  operating  expense  accounts  lierein  provided. 

200.  Intangibles. 

Charge  to  this  account  the  cost  of  organizing-  a  carrier  corporation-, 
also  the  cost  of  franchises  and  patent  rights  and  the  cost  of  other  intang- 
ible property  acquired  by  the  carrier  and  used  by  the  carrier  in  its  opera- 
tions. 

201.  Line  Equipment. 

Charge  to  this  account  the  cost  of  equipment  designed  or  intended 
primarily  for  the  transportation  service  between  terminals,  or  perma- 
nently so  used,  including  necessary  appurtenances,  furnishings  and 
fixtures. 

Among  the  more  important  equipment,  the  cost  of  which  should  be 
included  hereunder,  are  steamships,  sailing  vessels,  barges,  ferry  boats, 
tugboats  and  vessels  propelled  by  internal  combustion  engines. 

202.  Harbor  Equipment. 

Charge  to  this  account  the  cost  of  equipment  designed  or  intended 
primarily  for  harbor  service  or  permanently  so  used,  including  neces- 
sary appurtenances,  furnishings  and  fixtures.  Among  the  more  impor- 
tant equipment,  the  cost  of  which  shall  be  included  under  this  account, 
are  tugboats,  transfer  boats  and  lighters. 

203.  Miscellaneous  Floating  Equipment. 

Charge  to  this  account  the  cost  of  equipment  other  than  equipment 
of  the  classes  provided  for  in  accounts  201  and  202.  Among  the  more 
important  equipment,  the  cost  of  which  is  to  be  included  in  this  account, 
are  dredges,  pile  drivers,  scows,  etc.,  including  the  necessary  appur- 
tenances and  fixtures. 

204.  Wharves,  Docks  and  Terminals. 

Charge  to  this  account  the  cost  of  wharves,  piers  and  other  landings 
used  for  loading  and  unloading  vessels,  including  dredging  of  docks  and 
slips;  cost  of  piling,  pile  protection,  building  cofferdams,  pumping  or 
bailing  water,  masonry  walls,  or  fillings,  etc. ;  cost  of  transportation 
and  all  other  expenses  incident  to  construction ;  also  the  cost  of  material 
and  labor  expended  in  buildings  and  structures  thereon,  including 
water,  gas  and  sewer  pipes  and  connections,  steam  heating  apparatus 
and  stoves,  electric  bells,  electric  light  and  power  fixtures  and  wiring 
for  same,  and  all  other  material  and  fixtures  used  to  complete  the  build- 


CARRIERS    HV    \VATP:R.  21 

ing;  salaries  and  expenses  ol'  iii'ehiteets ;   cost  of  fences,   paving,  ete., 
upon  the  grounds  of  and  appi'oaclies  to  the  wharves. 

205.  Whar?^  Equipment. 

Charge  to -this  account  the  cost  of  nieehanieal  and  othei-  appliances  on 
Avharves  used  in  connection  with  loading  and  unloading  of  vessels  and 
for  transferring  freight,  such  as  traveling-platform  conveyors,  coal- 
handling  plants,  cranes,  derricks,  trucks  and  other  like  appliances. 

206.  Water  Front  and  Terminal  Grounds. 

Charge  to  this  account  the  cost  of  land  acquired  for  wliarves,  docks 
and  for  buildings;  also  the  cost  of  land  purchased  for  ingress  to  and 
egress  from  wharf  buildings  and  terminal  grounds. 

The  cost  of  water  front  and  terminal  grounds  includes  the  pay  and 
expenses  of  counsel,  engineers  and  others  while  especially  engaged  in 
connection  \vith  the  acquisition  of  such  grounds ;  the  expenses  of 
appraisals;  commissions  paid  outside  parties  for  purchase  of  such 
properties;  the  cost  of  plats,  notarial  and  recording  fees. 

207.  Other  Grounds. 

Charge  to  this  account  the  cost  of  land  acquired  for  use  directly  in 
connection  with  the  operation  of  the  line  but  in  excess  of  and  in  addi- 
tion to  that  actually  required  for  the  purposes  stated  in  account  206, 
including  all  expenses  incurred  therewith  as  enumerated  in  that 
account.  When  such  property  is  held  for  investment  purposes,  the 
cost  thereof  should  be  included  in  balance  sheet  account  101. 

208.  General  and  Local  Office  Buildings. 

Charge  to  this  account  the  cost  of  general  and  local  otifice  buildings, 
permanent  signs,  platforms,  sidewalk  excavations,  foundations, 
drainage,  water,  gas  and  sewer  pipes  and  connections;  steam  heating 
apparatus,  stoves,  elevators,  electric  bells,  electric  light  and  power 
fixtures  (including  wiring)  ;  and  of  all  other  api)urtenances  or  fixtures 
of  a  permanent  nature  used  to  complete  the  building;  also  the  cost  of 
fences,  hedging,  grading  and  beautifying  grounds  after  building  has 
been  completed,  but  not  any  cost  of  maintenance. 

Note. — This  account  should  not  include  the  cost  of  similar  buildings  located  on 
wharves  and  piers  which  should  be  charged  to  account  204. 

209.  Office  Furniture  and  Equipment. 

Charge  to  this  account  the  cost  of  the  initial  furniture,  equipment 
and  fixtures  for  general  and  local  office  buildings,  such  as  office  safes, 
desks,  chairs,  rugs,  filing  cabinets,  movable  i)artitions,  typewriters, 
adding   machines,    fire    extinguishers,    electric    fans,    and   other   office 


22  UNIFORM    CLASSIFICATION    OF    ACCOUNTS. 

devices,  fixtures  etc.,  when  not  built  in  or  permanently  attached  to 
buildings. 

210.  Shops,  Power  Plants  and  Miscellaneous  Structures. 

Charge  to  this  account  the  cost  of  all  buildings  to  be  used  as  shops, 
power  plants,  electric  light  plants  and  structures  of  every  kind  which 
are  not  otherwise  herein  particularly  referred  to,  including  cost  of 
material  and  labor  expended  in  their  construction,  and  all  machinery 
appliances  and  tools  necessary  to  equip  them  for  service. 

211.  Miscellaneous. 

Charge  this  account  with  expenditures  of  a  special  or  incidental 
nature  incurred  during  progress  of  construction  which  can  not 
properly  be  charged  directly  to  any  of  the  accounts  in  this  classification, 
such  as,  '  engineering  and  superintendence,  legal  expenses,  injuries 
and  damages,  taxes,  insurance  and  interest  during  construction. 

212.  Property  and  Equipment  in  Service  Prior  to  January  1,  1923. 
Transfer  and  charge  to  this  account  the  total  of  the  balances  in  the 

ledger  accounts  representing  the  cost  of  the  carrier's  property  and 
equipment  which  was  installed  prior  to  January  1,  1923,  and  which 
is  still  in  service  on  the  date  of  the  balance  sheet.  The  amount  charged 
to  this  account  may  be  distributed  to  Accounts  numbers  200  to  211, 
both  inclusive,  as  indicated  in  section  10,  page  7. 


INCOME  ACCOUNTS. 
Credits. 


Page 
._  24 


300 — Transportation    Kevenne    

310— Revenue  from  Operations  Otlior  than  Transportation 24 

24 

320— Miscellaneous    Income    

Debits. 

04. 
340 — Operating   Expenses    

350— Taxes   -■* 

360 — Interest   Accrued   -^ 

370 — Dividends    Declared    -"^ 

380 — Miscellaneous  Charges   to   Income 25 


24  UNIFORM   CLASSIFICATION   OF  ACCOUNTS. 

TEXT  OF  INCOME  ACCOUNTS  FOR  CLASS  "B"  CARRIERS. 

CREDITS. 

300.  Transportation  Revenue. 

This  account  shall  include  the  total  revenues  derived  for  the  year, 
or  other  period  covered  by  the  income  account,  from  transportation 
operations,  and  property  reported  under  the  primary  revenue  accounts 
500,  510  and  520. 

310.  Eevenue  from  Operations  Other  Than  Transportation. 

This  account  shall  include  the  total  of  the  revenue  derived  from  opera- 
tions other  than  transportation  and  properly  reported  under  the 
primary  revenue  accounts  530,  540  and  550. 

320.  Miscellaneous  Income. 

Credit  to  this  account  all  revenues  accruing  to  the  company  other 
than  those  provided  for  in  accounts  300  and  310,  such  for  example,  as 

(a)   Interest  and  dividends  received  on  securities  owned  by  the 
company ; 

(6)   Rents  from  land,  equipment  or  other  property  not  used  by  the 
carriers  in  its  transportation  operations; 

(c)  Profit  arising  from  the  sale  of  land  or  other  assets ; 

(d)  Operating  and  other  income  received  subsequent  to  the  fiscal 

period  to  which  such  income  pertains; 

(e)  Credits  arising  from  cancellation  of  liabilities,  such  cancella- 

tions being  due  to  inability  to  locate  the  creditor  or  other 
good  cause. 

The  above  examples  are  not  to  be  considered  as  comprising  all  the 
items  that  may  be  credited  to  this  account,  but  are  given  merely  as 
representative  illustrations. 

Note. — The  records  shall  be  so  kept  tliat  a  statement  can  be  prepared  showing  the 
credits  from  each  source. 

DEBITS. 

340.  Operating  Expenses. 

This  account  shall  include  the  total  operating  expenses  or  the  com- 
pany for  the  year,  being  amounts  transferred  from  operating  expense 
accounts  600  to  680. 

350.  Taxes. 

This  account  shall  include  the  amount  of  taxes  accrued  during  the 
period  covered  by  the  income  account.  The  account  shall  be  kept  in 
such  a  manner  as  to  show  state  or  local  taxes  accrued  on  property  used 
by  the  carrier  in  the  transportation  business;  the  state  and  local  taxes 


CARRIERS    BY    WATER.  25 

accrued  on  property  not  used  in  the  transportation  business  and  the 
amount  of  income  taxes  payable  to  the  Federal  government. 

360.  Interest  Accrued. 

Charge  to  this  account  interest  on  bonds,  mortgages,  notes  and  other 
interest  bearing  obligations  and  interest  on  open  accounts.  The  interest 
charges  on  securities  held  by  the  compan}^  in  its  treasury  or  pledged  as 
collateral  shall  not  be  included  in  this  account. 

370.  Dividends  Declared. 

Charge  to  this  account  the  amount  of  dividends  declared  on  the 
capital  stock  actually  outstanding. 

380.  Miscellaneous  Charges  to  Income. 

Charge  to  this  account  all  expen>ses  which  are  not  chargeable  to 
operating  expenses  or  to  the  preceding  income  debit  accounts,  such 
for  example,  as 

{a)   Rents  paid  other  than  those  provided  for  elsewhere; 

(&)   Operating  expenses  relating  to  a  previous  fiscal  period; 

(c)   Losses  arising  from  the  sale  of  land  or  other  assets; 

{d)   Donations   to    charitable    institutions    and   organizations   for 
promoting  social  welfare; 

(e)   Amortization  of  debt  discount  and  expense. 

The  above  examples  are  not  to  be  considered  as  comprising  all  the 
items  chargeable  to  this  account,  but  are  given  merely  as  representative 
illustrations. 

Note. — The  records  shall  be  so  kept  that  a  statement  can  be  prepared  showing  the 
debits  from  each  source. 


OPERATING  REVENUE  ACCOUNTS. 

A.      Revenue  from   Transportation. 

Page 
500— Freight   Revenue   1!7 

510 — Passenger  Revenue   : 27 

520 — Other  Transportation    Revenue   0.1 

B.     Revenue  from  Operations  Other  Than  Transportation. 

530 — Revenue  Involving  Rent,  Maintenance  and  Operation  of  Vessels 28 

540 — Rents  of  Buildings  and  Other  Property 28 

550— Miscellaneous   28 


CAKiUKHS  BY  WATKK.  27 


TEXT  OF  OPERATING  REVENUE  ACCOUNTS  FOR  CLASS  "B" 

CARRIERS. 

a.  revenue  from  transportation. 

500.  Freight  Revenue. 

This  account  slionld  iiicliulc  nnioinils  earned  by  a  carrier  for  the 
transportation  of  freight. 

This  aecoimt  should  be  credited  with  a  carrier's  proportion  of 
revenue  from  the  transportation  of  freight,  including  the  proportion 
accruing  from  arbitraries  allowed  in  rates  for  cargo  insurance;  also 
overcollections  made  in  excess  of  correct  rates,  such  overcoUeetions 
to  be  held  subject  to  claim. 

This  account  should  be  charged  with  refunds  of  overcharges  resulting 
from  the  use  of  erroneous  rates,  calculations,  weights  or  classifications ; 
autliorized  allowances  and  arbitraries;  amounts  paid  for  completing 
hauls  or  effecting  deliveries  when  the  cost  of  such  service  is  included  in 
the  rates  charged  by  the  carrier;  amounts  imcollected  or  refunded  on 
freight  destroyed  in  transit  and  on  short  and  lost  freight ;  also  uncol- 
lectible undercharges  determined  after  delivery  has  been  made. 

Note. — If  a  carrier  maintains  a  tran.sfer  or  a  lighterrse  service,  tlie  expenses  of 
wiiicli  are  included  in  operating  expenses  under  Account  640,  "Operation  of  Vessels," 
the  revenues  derived  from  this  service  should  be  credited  to  Account  1520  "Other 
Transportation  Revenue."  If  the  service  is  performed  by  an  outside  party,  its  cost 
to  the  carrier  should  be  charged  to  Account  520. 

510.  Passenger  Revenue. 

This  account  should  include  amounts  earned  by  a  carrier  for  the 
transportation  of  passengers.  This  account  should  be  credited  with  a 
carrier's  proportion  of  revenue  from  the  sale  of  tickets  and  from  the 
collection  of  casli  fares,  including  charges  for  sleeping  accommodations 
and  meals;  also  overcollections  made  in  excess  of  correct  rates,  such 
overcollections  to  be  held  subject  to  claim. 

This  account  should  be  charged  with  amounts  paid  for  I'efund  of 
fares  and  for  redemption  of  tickets ;  also  amounts  paid  for  transferring 
passengers  and  baggage  between  terminals  except  in  cases  in  which  the 
transfer  of  both  passengers  and  baggage  is  provided  for  in  the  division 
of  through  rates. 

520.  Other  Transportation  Revenue. 

This  account  should  be  credited  with  amounts  charged  by  a  carrier  for 
excess  baggage,  packages,  articles,  dogs,  express  matter,  mails  and  use 
of  mail  facilities,  sale  of  refreshments,  cigars  and  newsstand  supplies, 
and  all  other  items  incidental  to  the  transportation  of  passengers. 

This  account  should  also  include  earnings  from  lighterage,  towage 
and  like  service;  from  running  vessels  on  excursions  or  special  trips 


28  UNIFORM    CLASSIFICATION    OF    ACCOUNTS. 

when  specific  charges,  not  based  on  the  number  of  passengers  carried, 
are  made  for  transportation  between  designated  points. 

This  account  should  be  charged  with  refunds  of  amounts  previously 
credited  to  it. 

b.  revenue  from  operations  other  than  transportation. 

530.  Revenue  Involving  Rent,  Maintenance  and 
Operation  of  Vessels. 
This  account  should  include  amounts  earned  by  a  carrier  for  the 
lease,  hire  or  rent  of  vessels  or  other  floating  equipment  when,  under 
the  conditions  of  the  charter  or  lease,  the  payments  are  for  the  rent, 
maintenance  and  operation  of  the  equipment. 

540.  Rents  of  Buildings  and  Other  Property. 

This  account  should  include  a  carrier's  revenue  from  rents  of  land, 
buildings  and  property  other  than  that  covered  by  account  530  used  in 
connection  with  its  operations  when  the  cost  of  operating  and  maintain- 
ing the  portion  rented  can  not  be  separate  from  the  cost  of  operating 
and  maintaining  the  portion  used  by  the  carrier. 

550.  Miscellaneous. 

This  account  should  include  a  carrier's  revenue  from  operations 
not  otherwise  provided  for,  such  as  amounts  received  for  wharf  and 
vessel  privileges;  parcel  room  receipts;  storage  receipts;  wharfage, 
demurrage  and  other  items  of  like  nature. 

This  account  should  be  charged  with  refunds  of  amounts  previously 
credited  to  it. 


OPERATING  EXPENSE  ACCOUNTS. 

Page 
600— Repairs  of  Equipment 30 

610 — Repaii's  of  Terminals 30 

620 — Depreciation  of  Property  and   Equipment 30 

630— Traffic    Expenses   30 

640 — ^Transportation — Operation   of  Vessels   31 

650 — Transportation — Operation    of    Tei'minals 31 

660 — Transportation — Incidental   Expenses   31 

670 — General    Expenses   31 

6S0 — Charter   or   Lease   Expenses 32 


30  UNIFORM    CLASSIFICATION    OF   ACCOUNTS. 


TEXT  OF  OPERATING  EXPENSE  ACCOUNTS  FOR  CLASS  B 

CARRIERS. 

000.  Repairs  of  Equipment. 

This  account  shall  include  the  pay  of  officers  and  clerks,  office  and 
other  expenses  of  those  in  charge  or  engaged  in  the  maintenance  of 
equipment;  the  cost  of  all  material  and  labor  expended  in  repairs  and 
upkeep  of  vessels,  barges,  tugs,  lighters,  miscellaneous  floating  equip- 
ment, shop  supplies,  injuries  to  persons  engaged  in  maintenance  of 
equipment   (less  any  amounts  recovered  through  accident  insurance). 

610.  Repairs  of  Terminals. 

This  account  shall  include  the  pay  of  officers  and  clerKs,  officers  and 
other  expenses  of  those  in  charge  of  or  engaged  in  the  maintenance  of 
terminals;  all  expenses  incident  to  the  repairs  and  upkeep  of  docks, 
wharves,  buildings  and  fixtures  used  in  the  operations  of  a  carrier;  the 
cost  of  maintaining  grounds  and  approaches  connected  therewith ; 
injuries  to  persons  engaged  on  maintenance  of  terminals  (less  any 
amounts  recovered  through  accident  insurance). 

620.  Depreciation  of  Property  and  Equipment. 

There  should  be  charged  to  this  account  and  included  in  the  cost  of 
operations  a  monthly  or  annual  charge  for  depreciation  on  vessels, 
tugs,  lighters,  other  miscellaneous  floating  equipment  and  terminal 
jn-operty. 

This  charge  should  be  computed  at  a  certain  rate  per  cent  on  the 
original  cost  (estimated  if  not  known)  record  value  or  purchase  price 
of  such  equipment,  to  provide  a  reserve  which  will  represent  its 
expired  value  or  depreciation.  The  charges  made  should  equal  the 
amounts  estimated  to  be  necessary  to  cover  obsolescence  and  inade- 
quacy ;  such  wear  and  tear  as  have  accrued  and  are  not  provided  for  by 
current  repairs ;  and  also  to  cover  the  cost  of  property  destroyed  by 
such  casualties  as  are  not  provided  for  by  insurance. 

When  the  amounts  are  charged  to  Account  620  they  should  be 
concurrently  credited  to  Account  158  "Reserve  for  Accrued  Deprecia- 
tion." 

630.  Traffic  Expenses. 

This  account  shall  include  the  pay  of  officers  and  clerks,  office  and 
other  expenses  of  those  engaged  in  securing  and  directing  traffic,  the 
preparation  and  distribution  of  tariffs,  classifications  and  rate  sheets, 
etc. ;  the  cost  of  outside  agencies,  solicitors,  advertising  and  other 
expenses  for  attracting  traffic. 


carriers  bv  water.  31 

640.  Tkansi'ohtatiox — Oi'ekatiox  ok  Vesse:i.s. 

This  account  shall  iiii'ludc  tlic  pay  of  oflicei's  and  clerks,  oiYicv.  and 
other  expenses  of  those  in  ehariic  of  or  eniia.iicd  in  tlie  operating-  of 
vessels,  wages  of  erews,  fuel,  lul)rieation.  food  mid  othci-  supplies  and 
departmental  expenses  incident  to  the  opei-ation  of  V(>ssels. 

650.  TRANsi'oiri'ATioN — Operation  of  Terminals. 

This  account  shall  include  the  i)ay  of  oflicei's  and  clei-k's.  ofHce  and 
other  expenses  of  those  in  chari;'e  of  or  engaged  in  liie  opei-alion  of 
terminals,  port  or  station  agents,  stevedore  and  wharf  lalxir,  expenses 
in  connection  with  the  0{)eration  of  tugs,  lighters  and  oilier  floating 
equipment  employed  in  terminal  operations;  switching  and  other 
transfers;  wharf  supplies  and  expenses,  office  supplies  and  expenses 
at  terminals. 

660.  Transportation — IncidentaI;  Expenses. 

This  account  shall  include  all  amounts,  not  recoverable  through 
insurance,  paid  for  loss,  damage,  delays  or  destruction  of  freight, 
baggage  or  property,  uncollectible  freight  charges  paid  other  carriers 
on  lost,  misrouted,  damaged  or  refused  shipments ;  the  cost  of  repacking 
damaged  merchandise  and  other  property;  all  expenses  (less  amounts 
recovered  through  accident  insurance)  incident  to  injuries  to  persons 
directly  engaged  in  connection  with  transportation. 

This  account  should  be  credited  with  any  insurance  recovered  and 
net  amounts  received  from  the  sale  of  unclaimed  or  damaged  freight, 
baggage  and  property. 

670.  General  Expenses. 

This  account  shall  include  salaries  and  expenses  of  general  ofificers, 
other  officers  and  office  clerks  whose  duties  are  of  such  a  general  char- 
acter that  they  can  not  be  specifically  charged  to  any  of  the  preceding 
expense  accounts. 

Stationery,  printing  and  postage. 

General  office  supplies  and  expenses,  including  repairs  to  office 
equipment,  wages  of  janitors,  water,  ice,  light,  heat,  rent,  telephone 
and  telegrams,  etc. 

Legal  expenses,  insurance  and  other  miscellaneous  general  expenses. 

680.  Charter  or  Lease  Expenses. 

This  account  shall  include  all  amounts  paid  for  th(>  lease,  hire  or 
rent  of  vessels  or  other  floating  e(iuij)ment  when  under  the  t^n-ms  of  the 
charter  or  lease  the  payments  include  rent,  maintenance  and  operation 
of  the  equipment. 

Note. — Tliis  account  is  to  be  used  when  the  expen.ses  of  maintenance  and  operation 
are  not  separated  from  the  hire  or  rent ;  when  they  are  separable,  the  rent  portion 
only  should  be  charged  to  this  account,  and  the  cost  of  maintenance  and  operation 
should  be  charged  to  the  appropriate  accounts,  600,  640  or  650. 


INDEX. 

Page 

Accounts    payable- _ 17 

Accrued  liabilities 17 

Assessment   on   capital   stock 16 

Balance  sheet,   defined 6 

Balance  sheet  accounts,  list  of 12 

Capital  stock,  assessment  op 16 

Capital  stock 16 

Capital  stock,  premium  on 16 

Carriers  by  water,  definition 5 

Charter  or  lease  expenses 32 

Classification  of  accounts,   division  of 5 

Commission's    decision 33-3  5 

Construction,    new 7 

Depreciation,    defined 10,  11 

Depreciation  of  property  and  equipment 30 

Depreciation     reserve 17 

Deficit 18 

Dividends   declared 25 

Docks    20 

Equipment    20 

Expenses,    operating 24 

Floating    equipment,    miscellaneous 20 

Freight  revenue 27 

General   definitions,   instructions  and   information 5-11 

General  expenses 31 

Harbor  equipment 20 

Income  accounts,  defined 6 

Income  accounts,  list  of 23 

Income,    miscellaneous 24 

Intangible    capital 20 

Interest    accrued 25 

Land 21 

Line  equipment 20 

Long  term  debt 17 

Miscellaneous  capital 22 

Miscellaneous  charges  to  income 25 

Miscellaneous   structures 22 

Notes  payable 17 

Office  buildings,  general  and  local 21 

Office  furniture  and  equipment 21 

Operating  expenses 24 

Operating  expenses,   defined 6 

Operating  expense  accounts,  list  of 29 

Operating  revenues,  defined 6 

Operating  revenue  accounts,   list  of 26 

Other  credit  accounts 18 

Other  debit  accounts 16 

Other    grounds . 21 

Passenger  revenue 27 

Power   plants 22 

Premium    on    capital    stock 16 

Property  and  equipment  accounts,  list  of 19 

Property  and  equipment  accounts,  defined 6 

Property  and  equipment,    cost  of 7 

Property  and  equipment  retired 9 

Property  and  equipment  in  service  prior  to  January  1,   1923 7,  22 

Proprietor's   accounts 17 

Reconstruction,   accounting  for 7 

Reconstruction,   manner   of  accounting 7,    8 

Repairs 30 

Repairs,  cost  of 10 

Repairs,  definition  and  accounting  for 9,  10 

Reserve  for   accrued   depreciation 17 

Revenue,    freight ! 27 

Revenue  from  operations  other  than  transportation 24 

Revenue,  miscellaneous 28 

Revenue,  other  transportation J 27 

Revenue,  passenger 27 

Revenue,    rent,    etc 28 

Revenue,    transportation 24 

Shops 22 

Surplus 18 

Taxes    24 

Terminals    20 

Traffic   expenses , , 30 

Transportation    expenses .- ; 31 

Transportation    revenue 24 

Vessels 20 

Waterfront   and   terminal   grounds 21 

Wharves,    docks   and   terminals 20 

Wharf  equipment 21 


CARRIERS   BY    WATER.  33 

Appendix  A. 

Decision  No.  11260. 

Before  the 

Railroad  Commission  of  the  State  of  California. 


IN  THE  MATTER  OF  THE  IIn^VESTIGATION  ON  THE  COMMISSION'S 
OWN  MOTION  OF  THE  TROrOSED  UNIFORM  CLASSIFICATION 
OF  ACCOUNTS  FOR  CARRIERS  BY  WATER. 

Case  No.  1760. 


C.  E.  Crocker,  for  Bay  Cities  Transportation  Company  : 

J.  8.  P.  Dean,  for  Bay  and  River  Boat  Owners"  Association  ; 

C.  G.  Ball,  for  N.  Fay  &  Sons ; 

E.  Byrtic,  for  E.  H.  Rideout  &  Company  ; 

B.  C  Schrieber  in  propria  persona; 

N.  E.  Brown,,  for  San  Diego  and  Coronado  Ferry  Company ; 

D.  H.  Crowell,  for  W'ilmington  Transportation  Company. 

By  The  Commission. 

OPINION. 

This  is  a  proceeding  instituted  by  the  Commission  on  its  own  motion 
for  the  purpose  of  fixing  and  prescribing  a  uniform  classification  of 
accounts  for  carriers  by  water. 

Public  hearings  were  had  in  this  matter  before  Examiner  Westover 
in  San  Francisco  and  Los  Angeles.  Notice  of  these  hearings  was  mailed 
to  all  carriers  by  water,  and  such  carriers  were  given  an  opportunity  to 
show  cause  why  the  Commission  should  not  adopt  the  uniform  classifi- 
cation of  accounts  prescribed  by  the  Interstate  Commerce  Commission 
for  carriers  by  water.  A  copy  of  the  Interstate  Commerce  Commission's 
system  of  accounts  is  on  file  in  this  proceeding  and  marked  ''Commis- 
sion's Exhibit  A." 

J.  S.  P.  Dean,  representing  the  Bay  and  River  Boat  Owners'  Associa- 
tion, urges  that  a  system  of  accounts  more  simple  than  that  of  the 
Interstate  Commerce  Commission,  and  contained  in  a  single  pamphlet, 
])e  prescribed  for  smaller  carriers  by  water.  With  this  exception,  no 
one  raised  any  objection  to  putting  into  effect  the  Interstate  Commerce 
Commission 's  classification. 

Section  48  of  the  Public  Utilities  Act  empowers  the  Railroad  Com- 
mission to  establish  accounting  systems.  It  contains,  however,  this 
'proviso : 

The  system  of  accounts  established  by  the  Commission  and  the  forms  of 
accounts,  records  and  memoranda  prescribed  by  it  shall  not  be  inconsistent,  in 
the    case    of    corporations    subject    to    the    provisions    of    the    act    of    congress 


34  UNIFORM    CLASSIFICATION    OF    ACCOUNTS. 

entitled  "An  net  to  re^uliite  (■uiiiiueree.  ;»i)])ro\e(l  February  4,  1887"  *  *  *  \Yith 
the  systems  and  forms  from  time  to  time  established  for  such  corporations 
by  the  Interstate  Commerce  Commission,  but  nothing  herein  contained  shall 
affect  the  power  of  the  Commission  to  prescribe  forms  of  accounts,  records 
and  memoranda  covering  information  in  addition  to  that  required  by  the  Inter- 
state Commerce  Commission. 

Therefore  as  to  those  carriers  who  may  be  engaged  in  both  intrastate 
and  interstate  bnsiness  and  thns  subject  to  the  jurisdiction  of  both  the 
Railroad  Commission  aiul  the  Interstate  Commerce  Commission,  the 
Railroad  Commission  by  the  order  contained  herein  adopts  and  pre- 
scribes, in  so  far  as  it  has  jurisdiction,  the  classification  of  accounts 
prepared  ami  prescribed  by  the  Interstate  Commerce  Commission  and 
now  in  effect. 

There  appear  to  be  some  carriers  who  are  engaged  only  in  intrastate 
business  and  therefore  subject  only  to  the  jurisdiction  of  the  Railroad 
Commission.  For  the  purpose  of  accounting,  such  carriers  have  been 
divided  into  two  classes.  Class  A  includes  all  carriers  having  annual 
operating  revenues  of  more  than  $500,000,  while  Class  B  includes  all 
carriers  having  annual  operating  revenues  of  $500,000  or  less.  This 
division  is  in  line  with  that  of  the  Interstate  Commerce  Commission. 
Carriers  who  fall  wdthin  Class  A  will  be  required  to  keep  their 
accounts  and  records  in  accordance  with  the  uniform  classification  of 
accounts  of  the  Interstate  Commerce  Commission. 

Using  the  Interstate  Commerce  Commission's  classification  as  a 
basis,  the  Railroad  Commission's  department  of  finance  and  accounts 
has  prepared  a  uniform  classification  of  accounts  for  Class  B  carriers. 
A  copy  of  this  classification  is  021  file  in  this  proceeding  and  for  the 
purpose  of  identification  has  been  marked  "Commission's  Exhibit  B." 
The  order  herein  requires  all  carriers,  unless  excused  by  the  Com- 
mission in  writing,  to  keep  their  accounts  either  in  accordance  with 
the  Interstate  Commerce  Commission's  classification  or  in  accordance 
with  the  classification  prepared  by  this  Commission's  department  of 
finance  and  accounts.  The  Connnission  may,  for  good  cause  shown 
in  writing,  authorize  in  specific  instances  deviations  from  the  uniform 
classification  of  accounts  adopted  and  prescribed  by  the  order.  Any 
violation  of  the  order  makes  a  carrier  liable  for  the  penalties  provided 
in  the  Public  Utilities  Act. 

ORDER. 

Public  hearings  having  been  held  in  the  above  entitled  matter  and 
the  Commission  having  given  due  consideration  to  the  evidence  sub- 
mitted at  such  hearings; 

It  is  hereby  ordered  and  directed,  that  all  carriers  by  w^ater  having 
annual  operating  revenues  of  more  than  $500,000  and  subject  to  the 


CARRIERS    BV    WATER.  35 

jurisdiction  of  the  Railroad  Coininission ;  also  all  carriers  l)y  water 
engaged  in  intrastate  and  interstate  business  and  therefore  subject  to 
the  jurisdiction  of  both  the  Railroad  Commission  and  the  Interstate 
Commerce  Connnission,  must,  on  and  after  January  1,  1923,  keep  their 
accounts  and  records  in  accordance  with  the  uniform  classification  of 
accounts  prescribed  by  the  Interstate  Commerce  Commission,  which 
uniform  classification  of  accounts  is  hereby  adopted  and  prescribed  by 
the  Railroad  Commission  in  so  far  as  it  has  jurisdiction  over  the 
accounts  and  records  of  all  carriers  described  in  this  paragraph.  A 
copy  of  said  classification  is  on  file  in  this  proceeding  and  marked 
"Commission's  Exhibit  A." 

It  is  hereby  further  ordered  and  directed,  that  all  carriers  l)y  water 
whose  annual  operating  revenues  are  $500,000  or  less  and  who  are 
subject  to  the  jurisdiction  of  the  Railroad  Commission  and  not  to  the 
jurisdiction  of  the  Interstate  Commerce  Commission,  must,  on  and  after 
January  1,  1923,  keep  their  accounts  and  records  in  accordance  with 
the  uniform  classification  of  accounts  contained  in  the  "Commission's 
Exhibit  B"  filed  in  this  proceeding,  which  classification  of  accounts  is 
hereby  adopted  and  prescribed  by  the  Railroad  Commission  for  the 
carriers  described  in  this  paragraph. 

It  is  herehi)  further  ordered,  that  upon  giving  written  notice  to  the 
C'ommission  and  with  the  written  approval  of  the  Commission,  any 
carrier  by  water  coming  within  Class  B  may  keep  its  accounts  and 
records  in  accordance  with  the  system  of  accounts  prescribed  by  the 
Interstate  Commerce  Commission  and  adopted  by  this  Commission. 

Dated  at  San  Francisco,  California,  this  twenty-third  day  of  Novem- 
ber, 1922. 

H.  W.  Brundige, 
Irving  Martin, 
Chester  H.  Rowell, 

Commissioners. 


74019 


22792      12-22      1500 


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